I have knowledge that they are working with outside consultants for some massive cuts underway. Lots of jobs will be moving to India. The goal is a 50% headcount reduction with automation and customers moving to online platforms. Its over boys and girls. Jamie's heart will go out soon or he will retire in the next few years. The next 10 years will be a race to the bottom
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My department was just informed that our nigth shift teams will be cut because why pay us 10% shift dif when they can pay over seas reps less to do what we do, ignoring costantly that 75% of our controllable losses are done by those over seas departments. It can happen sometime soon or maybe not until next year, but we will be losing night US teams because it's cheaper for over seas
Many jobs and support roles are going to Argentina, since it's there is timezones advantage. It's not all to India.
Shocking naivety on here. Very few facts. Yes, of course Chase is laying people off and investing in digital. Fintech is the black swan for brick and mortar networks. During COVID, the banks saw nothing but overhead costs and little production. Bad when you have over 5,500 branches like Chase. Senior management is focused on a balance sheet not emotions. You should expect layoffs unfortunately as growth for Chase has been redefined into survival.
Most folks cant hack it at chase. This may be a blessing in disguise where you can take the package and go work elsewhere. It's very easy to get 15 dollar an hour which isn't bad.
Your comment about jaimies heart is in bad taste.. Maybe you are losing your job for a good reason. Says a lot about your character
That's not bad as you can get the heck out a d do something better!!!
Chase has advised all Personal Bankers that they will eliminate their position in February. The have a choice to get licensed and become a Relationship Banker, demote themselves to Associate Banker or take a severance package based on time served with the company.
This doesn't massive sorry though chica
It is true, I got my notice today. The bank is transferring most of the reporting, administrative and project management roles to India across all LOBs. Is sad to see how we work for such a powerful entity that does not care for its employees.
There is no truth to this. Keep working and do your best.
MONDAY JAN 11 ANOUNCEMENT
Will the layoffs be distributed throughout all LOBs and Corporate Functions or only certain groups? Any knowledge on layoffs in CCOR?
They hired a bunch of people from India in our group to reduce inventory. In the past JPM has always had one of these inventory pushes before a big layoff. I hope everyone has a very Merry Christmas!
That’s false, my manager always tells me we are not just a team, but we are like a family, no way he will abandon us and lay us off no matter what !